It’s a huge deal that the government’s top health agency has changed its mind about marijuana and now advises rescheduling it from Schedule I to Schedule III, where it would be less likely to be used for either recreational or medical purposes.
Bloomberg was the first to announce the news. According to Bloomberg, on Tuesday, HHS Assistant Secretary for Health Rachel Levine issued a letter to DEA addressing the Schedule III recommendation and highlighting FDA’s review. Levine had previously backed medicinal cannabis as Pennsylvania’s health secretary before entering the Biden administration.
In a statement released to Marijuana Moment on Wednesday, an HHS spokesperson said, “Following the data and science, HHS has expeditiously responded to President Biden’s directive to HHS Secretary Becerra and provided its scheduling recommendation for marijuana to the DEA on August 29, 2023.” “This administrative process was completed in less than 11 months, reflecting this department’s collaboration and leadership to ensure that a comprehensive scientific evaluation would be completed and shared expeditiously.”
Sundial Growers, Inc. (NASDAQ:SNDL) is in the business of growing cannabis as well as producing and selling alcoholic beverages from its own stores. Some of the brands that may be found there include Sundial, Top Leaf, Palmetto, and Grasslands. All things considered, SNDL is among the most promising cannabis enterprises in North America.
After completing a scientific study of cannabis per President Joe Biden’s instruction from last year, HHS is now advising the Drug Enforcement Administration (DEA) that it believes marijuana should be added to Schedule III of the Controlled Substances Act (CSA). The scientific research and growing political support for cannabis reform may well persuade DEA to make the change, despite the fact that DEA has the final say and the advise is not binding.
However, cannabis would still be illegal on a federal level as a category III substance.
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